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‘Condominium residents in Florida need to stay in competently managed and structurally secure buildings.’
Florida condominium homeowners who need to strengthen their properties towards seasonal storms are one step nearer to getting monetary assist from the state.
The Home Insurance coverage and Banking Subcommittee voted unanimously this week to advance a proposal (HB 1029) that may create the My Protected Florida Condominium Pilot Program throughout the Division of Monetary Companies.
In essence, the invoice would enable condominium homeowners to profit from grants now afforded to homeowners of single-family properties and townhouses throughout Florida by way of the My Safe Florida Home program, which lawmakers resurrected in 2022.
The Legislature has since put aside $433 million to assist owners harden their domiciles by way of roof, door and window reinforcement upgrades.
“This vital piece of laws will enable condominium associations, by majority vote, to take part on this grant program and harden their buildings to be able to cut back their insurance coverage premiums. Condominium residents in Florida need to stay in competently managed and structurally secure buildings,” mentioned Rep. Vicki Lopez, a Miami Republican who’s co-sponsoring the measure with Democratic Parkland Rep. Christine Hunschofksy.
The invoice is one among a number of efforts Lopez is championing this Session to strengthen condominium safeguards in Florida. One other, which she calls “Condo 3.0” and developed with Fleming Island Republican Sen. Jennifer Bradley, is also progressing.
Hunschofsky advised the committee Thursday that HB 1029 started over the summer time when Bradley and Lopez visited her district in northwest Broward County to talk with greater than 150 condominium residents.
“This work got here out of that,” she mentioned. “And it exhibits that after we’re in our communities, after we’re listening to the folks we’re elected to serve and after we’re keen to work collectively, we will get issues performed.”
Jennifer Ashton of the Florida Affiliation of Builders signaled assist for the measure, which has two extra committee stops earlier than it reaches the Home flooring.
An equivalent companion invoice (SB 1366) by Sen. Nick DiCeglie, a St. Petersburg Republican, is scheduled for a Tuesday listening to earlier than the primary of three committees to which it was referred.
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